The nation’s top economists forecast that the economy will experience a 6% contraction in 2020, with conditions beginning to recover sometime around the third quarter after a sharp second-quarter decline, according to the American Bankers Association’s Economic Advisory Committee.
However, economists expressed a wide range of views, with little clustering, reflecting the great degree of economic uncertainty of the times.
The nation’s top bank economists forecast continued economic growth that would support job growth and wage gains in 2020 and beyond.
Comerica Bank Chief Economist Robert Dye joins the ABA Banking Journal Podcast for a brief conversation on the economic outlook for the remainder of 2019 and beyond.
ABA’s Economic Advisory Committee—which is made up of 16 chief economists from some of the nation’s largest banks—today forecast that economic growth will continue through 2020 at an estimated rate of 2 percent.
The U.S. economic outlook, while positive, is a tale of two stories, says Comerica Bank Chief Economist Robert Dye on the latest episode of the ABA Banking Journal Podcast.
Economic growth will ease to 2.1 percent in 2019 and further moderate to 1.7 percent in 2020, according to the consensus forecast of the ABA Economic Advisory Committee today.